CM Abdullah meets FM Sitharaman to conclude Delhi visit

New Delhi, Nov 15: Chief Minister Omar Abdullah met with Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman, in New Delhi today to discuss critical financial matters impacting Jammu and Kashmir. The discussions focused on securing financial support for various development projects and addressing key fiscal challenges facing the Union Territory (UT).
Sharing the meeting update on X (formerly Twitter), Nirmala Sitharaman’s office wrote: “Shri Omar Abdullah (@OmarAbdullah), Hon’ble Chief Minister of Jammu & Kashmir, calls on Smt @nsitharaman.” Chief Minister Abdullah, in a post on Instagram, highlighted the importance of the meeting, stating, “Called on Union Minister of Finance and Corporate Affairs, Smt. @nsitharaman ji. Our discussion centred around crucial economic matters concerning Jammu and Kashmir. I passionately advocated for much-needed support from the Union Finance Ministry for the region.”
The Chief Minister expressed optimism that collaboration between the Jammu & Kashmir government and the central government would contribute to financial stability and foster sustainable development in the region.
Among the key issues discussed, the Chief Minister sought the Union Finance Minister’s support to access multi-lateral funding for developing new tourism destinations in Jammu and Kashmir. This initiative aims to reduce congestion at existing tourist sites while creating world-class infrastructure at newly identified locations.
Additionally, CM Abdullah expressed his appreciation for the approval of the Competitiveness Improvement of Agriculture & Allied Sectors Project (JKCIP) by the Ministry of Finance. The project, financed by a USD 100 million loan from the International Fund for Agricultural Development (IFAD), aims to rejuvenate the agriculture sector in Jammu and Kashmir over the next seven years.
The Chief Minister also made a formal request for Jammu and Kashmir to be treated on par with the North Eastern states in terms of incentives for Externally Aided Project (EAP) loans. This would include making J&K eligible for special lending arrangements under EAP loans.
A significant part of the discussion centered around fiscal challenges faced by Jammu and Kashmir. The Chief Minister requested the Finance Ministry to consider providing an additional Rs 6,000 crore in central assistance to bridge the resource gap in the UT’s budget for the fiscal year 2024-25.
In addition to the meeting with the Finance Minister, Omar Abdullah’s visit to New Delhi included a series of high-level meetings. He met with President Droupadi Murmu, Vice President Jagdeep Dhankar, and attended the Power Ministers’ conference chaired by the Union Minister of Power, where the power sector’s priorities and challenges in Jammu and Kashmir were discussed.
Chief Minister Abdullah also met with several industry leaders and senior government officials to explore collaboration opportunities for the development of Jammu and Kashmir. Notable among them were Arjun Dhawan, Executive Vice Chairman of Hindustan Construction Company, to discuss infrastructure projects; Abhijit Basu, CEO of Smartex Cognitive Pvt Ltd, who shared innovative solutions in technology and governance; and Avinash Pawar, DM of the National Small Industries Corporation (NSIC), to discuss support for MSMEs in the region.
In addition, CM Abdullah met Aaley Mohammad Iqbal, Deputy Mayor of Delhi Municipal Corporation, to explore potential collaboration on urban development issues. These dialogues, culminating in today’s meeting with the Finance Minister, underscore the Chief Minister’s commitment to the welfare and development of Jammu and Kashmir, as well as his ongoing efforts to strengthen ties with the central government.